TEN is one of the main developments offshore Ghana that the company is depending on to help it sustain and grow cash flow as it also moves forward on exploration.
Enhanced completions onshore and subsea tiebacks offshore are contributing to production gains, but low commodity prices are taking away profit potential.
The company is focusing on selling Angola assets, addressing liquidity and moving discovered resources into production by 2021.
Hopes are momentum generated will keep the country on companies’ radars despite today’s market conditions.
West Africa’s list of stalled projects means Tullow Oil’s TEN development is a rare bright spot.
Anadarko Petroleum has decided to terminate its charter of the Dolphin Drilling drillship Belford Dolphin in September this year, with the unit currently working for the operator off east Africa’s Mozambique.
The battle to win the contract to design and build a world-class FLNG unit to be used by Eni and its partners on a mega-gas project offshore Mozambique is coming to the boil.
Various subsea equipment will be delivered throughout 2015 and 2016.
UK independent Sterling Energy has had the exploration period for two frontier blocks northwest of Madagascar extended.
The contract is for a firm charter period of 15 years with five yearly extension options exercisable by the client.
On OPL 226, five wells have previously been drilled. The first oil discovery was made in 2001 in the fifth well after earlier drilling intersected predominantly gas-bearing sands.
CEFC has, over the past few years, lined up preliminary deals for equity oil production in Kazakhstan, Russia and Abu Dhabi, but the Chad acquisition was the first to be finalized, Reuters reported.
Located in Mozambique's Rovuma Basin, Eni's Area 4 is one of the biggest recent discoveries, holding about 85 trillion cubic feet of gas, Reuters reported.
The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Shell CEO Eden Murphy said in a statement.
Tests showed a crude oil flow rate of 2,406 barrels per day, Sonatrach said in a statement.
Sonatrach has invested to stabilize and increase production at its large mature fields and expects to bring five new gas fields online in the south despite delays from state bureaucracy, Reuters reported.
A trading source said that a fourth Plutonio cargo had been added to the October program, Reuters reported.
Oil production is expected to gradually increase toward 80,000 barrels per day (bbl/d), the FPSO capacity, Tullow said in a news release. The annual average production will be about 23,000 bbl/d gross (11,000 bbl/d net for Tullow).
Nobody has claimed responsibility for a blast at the Trans Ramos Pipeline near Odimodi, operated by Shell's joint venture SPDC, which locals said happened in the early hours of July 31.
Mozambique made one of the world's biggest gas finds in a decade in 2010 but negotiations with operators Eni and Anadarko Petroluem have dragged on for years due to disputes over terms and concerns about falling energy prices.
An issue with the turret bearing of the FPSO Kwame Nkrumah that is operating on the Tullow Oil-operated Jubilee oil field development offshore Ghana “has resulted in the need to implement new operating and offtake procedures.”
Italian oil firm Eni has wrapped up long-running talks to sell a multibillion-dollar stake in its planned Mozambique LNG development to Exxon Mobil, two sources with knowledge of the matter said.
OneSubsea has been awarded a $170 million engineering, procurement and construction contract from Petrobel for the first stage of the Zohr gas field, located in the Shorouk Concession, offshore Egypt.
BP and the Egyptian Natural Gas Holding Co. (EGAS) have sanctioned the development of the Atoll Phase One project.
Kosmos Energy said its Ahmeyim-2 appraisal well has successfully delineated the Ahmeyim and Guembeul gas discoveries offshore Mauritania and Senegal, paving the way for an LNG project in the region.
Gunmen seized 14 Nigerian employees of the state-owned company Nestoil at the beginning of September on a road between the towns of Omoku and Elele, Reuters reported.
The Avengers declared a cease-fire late in August in an open letter to the government, but the military is continuing to arrest suspected militants for fear of further attacks, Reuters reported.
The government has split the bill in two in an effort to streamline its passage, and a draft seen by Reuters earlier this year included plans to divide NNPC into two companies and sell stakes in a portion of it.
In late 2011, Noble Energy Inc. found an estimated 4.5 trillion cubic feet of natural gas in one prospect off Cyprus, Reuters reported.
Niger Delta Avengers, the group that claimed responsibility for most attacks in the impoverished region where militants want a greater share of the country's oil wealth, said on Aug. 29 it had halted hostilities.